Cable Update (GBPUSD)
The white channel retest has held well. If we do climb to the 61 fib for the retest a short back down to the broken descending TL next week could be good. PA permitting of course
{quote} 1.51 if this trade is still alive for meh
OK Traders here is some harmonic analysis I'll share on the Gbp/Usd. For those looking for reasons to get short for the next move much lower. A few scenarios potentially setting up if we can sustain a break above key structure zone. I'll break it down from the weekly 1st: You will notice the the all Important Weekly TL in red. We broke through and have yet to retest. Attached Image (click to enlarge) http://www.forexfactory.com/attachment.php?attachmentid=1208718&stc=1&thumb=1&d=1370563458...
{quote} I can't really make heads or tails of your charts but thanks. If the red weekly TL you're referring to is the same as this lower (blue) ascending TL of the 4 year symmetrical triangle, I agree it needs to be tested and I thought it would be off the first bounce of the 38.2%. Didn't quite get there though. When it was approaching it last time I had planned to short there which would have been around the 5750/5800 area. I wonder if it will get tested this time or NFP rebounds the dollar ($ index supports that possibility) and cable sinks again?...
{quote} Very interesting chart dude, do you draw it manually?....., base on your harmonic scenario, a huge gartley / butterfly still possible to form....it is mean we still have possibility to climb higher first before big fall..... For sellers maybe can run the scalping mode....
{quote} Very interesting chart dude, do you draw it manually?....., base on your harmonic scenario, a huge gartley / butterfly still possible to form....it is mean we still have possibility to climb higher first before big fall..... For sellers maybe can run the scalping mode....
oooh I feel a lesson coming on {quote}
Just want to share my thought, but if you don't mind and consider it as a lesson, you are welcome I myself learn direct or indirect, thesis or antithesis, from others as well. That's the very purpose we are here, isn't it?
Hi IBB, based on the 4 H candle pattern before drop after strong jump, seems like need 5-6 candle for cable to "cooking", it is mean next 5 -6 days will be swing on daily, ...or maybe just need daily 3 candle for cable to continue bullish as usual. Let see.......
Yesterday was my best trade ever......., very risky but it was paid, for the mini account it is ok to play some adrenalin..... 1062 pips just in one day, gave me significant growth on my equity..... let say it was my epic trading, all from bull position...... {image}
{quote} Haha .. I don't feel like teaching anyone, although some posters need a 'lesson' though
